Healthcare Revenue Cycle Management Industry to surpass $100 by 2024: Global Market Insights Inc. The medical research report “Healthcare Revenue Cycle Management Market Size By Product (Integrated, Standalone), By Deployment (On-Premise, Cloud Based), By Component (Services, Software), By End User (Hospitals, Physicians, Diagnostic & Ambulatory Care Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Brazil, Mexico, South Africa, Saudi Arabia), Growth Potential, Competitive Market Share & Forecast, 2016 - 2024� by Global Market Insights, Inc. says (HRCM) Healthcare Revenue Cycle Management Market size is set to exceed USD 100 billion by 2024. Healthcare Revenue Cycle Management Market size is driven by growing government and private insurance shift from volume to value-based healthcare, demand to reduce billing errors and implementation of big data analytics. A steady stream of government compliance requirements such as ICD-10 transition and HIPAA v5010; and increased fraudulence screening are generating demand for more robust solutions.
HRCM is recognized as the most important system in a healthcare technology infrastructure. Healthcare providers employ certified Electronic Health Records (EHR) and automated practice management to save cost by reducing the number of denied claims and enabling patients to pay bills online. Introduction of advanced automated solutions have helped clinical and front desk staff, providers, and coders & billers to increase performance level and save time. With increasing business, patients are using multiple channels to make payments for the services received at clinic or hospitals. Increasing number of benefits will stimulate the healthcare revenue cycle management market growth over the forecast timeline. Integrated solutions should be the major revenue generating segment in 2015 due to enhanced operational capabilities and streamlined financial and clinical systems with greater insights into costs, treatments, and outcomes. Healthcare revenue cycle management market services are forecast to be the leading component segment owing to stability provided over frequently updating software. Cloud based solutions held over 75% of the 2015 healthcare revenue cycle management market share due to adoption of electronic health records for efficient data mining and accurate assessment of the health information. Increased demand 1|Page